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After-hours buzz: Micron, Medivation, EPE & more

NYSE Traders on the floor
Spencer Platt | Getty Images
NYSE Traders on the floor

Check out the companies making headlines after the bell Wednesday:

Micron Technology shares ticked up in extended trading after reporting a lower quarterly profit loss than expected.

The semiconductor heavyweight posted a loss of 5 cents per share on revenues of $2.93 billion. That's higher earnings and lower sales than the expected loss of 8 cents per share on revenues of $3.05 billion, forecast by Thomson Reuters consensus estimates. The company was under pressure after 10 percent declines in both sales and prices of a memory technology called DRAM, the company said, in a statement.

Shares of Medivation moved higher after the bell on a report that it might be a takeover target. The company has no plans to sell itself but may be working with JPMorgan to field interest from other companies, Reuters reported, citing anonymous sources.

Medivation is the company behind Xtandi, a prostate cancer treatment. On Monday, the company announced a new chief financial officer.

Progress Software shares tumbled after the enterprise app developer posted worse-than-expected quarterly results. The company, which boasts clients like eBay and Nielsen, posted earnings of 27 cents per share on $90 million in revenue, below the 28 cents per share on $93 million in revenue predicted in Thomson Reuters consensus estimates.

Oil and natural gas producer EP Energy bounced after the bell in volatile trade after U.S. oil prices gave up gains, closing mostly flat on the day, while natural gas hit a seven-week high.

As the energy sector faces consolidation amid historically low prices, EP Energy shares have fluctuated widely, up 7.3 percent year to date after being down more than 60 percent earlier in the year.

— Reuters and CNBC's Fred Imbert, Alex Crippen, Gina Francolla and Chris Hayes contributed to this report.